CANADA STOCKS-TSX up slightly but below recent highs; weak gold weighs

Thu Jun 26, 2014 10:51am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

* TSX index up 12.32, or 0.08 percent, at 14,986.97
    * Six of 10 TSX subgroups higher

 (Adds quotes, details)
    By Cameron French
    TORONTO, June 26 (Reuters) - Canada's main stock index was
up slightly on Thursday but hovering below recent near-record
highs as weak gold prices pulled down mining stocks, while
industrials and financials strengthened.
    Gold prices slipped, pulling the mining-heavy materials
subgroup down 0.43 percent. Yamana Gold slid 1.4
percent to C$8.73, while Goldcorp was down 1.2 percent at
    About one hour into trading, the Toronto Stock Exchange's
S&P/TSX composite index was up 12.32 points, or 0.08
percent, at 14,986.97.
    The index is up about 10 percent this year and came within
20 points of a record high on Tuesday but has since fallen back,
which has not been a surprise to observers used to the TSX's
traditional sluggishness during the summer months.
    "We've had a pretty good six months here to start the year,"
said John Kinsey, a Toronto-based portfolio manager at Caldwell
Securities. "I think the market's kind of taking a rest in
    Six of the 10 TSX subgroups were higher.
    The industrials group was up 0.22 percent, powered by
Canadian National Railway, up 0.9 percent at C$68.64.
    Financials climbed 0.24 percent, led by Royal Bank of Canada
, which was up 0.4 percent at C$75.20.
    Among individual movers, Empire Co Ltd., the
operator of grocery chain Sobeys Inc, eased 0.7 percent to
C$66.64 after reporting a lower quarterly profit and announcing
the closure of 50 underperforming stores. 
    Shaw Communications Inc, was up 0.3 percent at
C$26.43 after it said net income fell nearly 9 percent in the
third quarter, as it lost more television subscribers despite a
boost from business customers. 

 (Reporting by Cameron French; Editing by Chizu Nomiyama and
James Dalgleish)